The first animals were sold by auction in Rimbey in 1963. The auction market was built and first operated by C. Clairhout & Glen Zingle. They sold the market to Del Jordon and Dean Johnson who operated successfully and built the existing sales barn. In 1968 Elmer Olson and his sons Glen & Allen took over the local market and operated it for many years. Ervin Pederson, a well-known cattle owner from Bentley, purchased the market in 1979. The market grew considerably under his direction and many of our current staff were initiated by Ervin. After a period of turmoil the market was purchased by the current owners, Guy Paris, Allen Olson and Brian Tennant. Since they took over in 1996 the pens have all been changed from wood to steel, a large ring scale was installed and a second ring and scale were added for selling cows. In 1996 40000 cattle were sold in Rimbey, in 2001 82000 head went through the rings. In August 2010 Alan Olso bought out his 2 partners and is currently the sole owner.
Established in 1953, the second of its kind in Alberta, and is currently owned and managed by the same families. The Mart has grown to be one of the largest volume trading centers in Alberta. The modern facility offers a capacity of 5000 calves and feeder cattle, handling them efficiently and accurately. Top priority is put on clean bedded pens with minimal stress on the handling of livestock. The second auction ring sells dairy cattle, baby calves, hogs, sheep and goats. Seven licensed, bonded auctioneers with 150+ combined years of experience and a support staff of fifty people, handle sales with expertise. Special sales for machinery, horses and real estate are held throughout the year. Regular sales held each Tuesday and feeder cattle sales every Friday. Olds is a participating market in the Canadian Satellite Livestock Auction.